[Jodi]

Does anyone have a good site for finding out what current mortgage rates are? I have a mortgage and I know at some point I will want to refi.

I have been asking the mortgage company.

Last time I asked, I asked him if he had a place I could find it online so I didn’t have to bug him all the time and he told me that I should be able to google it.

If I do that, I have to provide all my info, they still dont give me a rate and then people call me trying to sell me a mortgage.

I get that it’s based on my credit, etc but a range would be nice so I know if it’s a good time to pursue refinancing.

[Megan]

i’ve found tracking rates at local credit unions usually works well. granted they’re typically showing the lowest they offer which is if you have perfect credit, but it’s good for getting a ballpark.

we’ve been stalking them to try and refinance (*cries in 7% interest rate*)

[Gloria]

Per chat gpt As of February 8, 2025, mortgage rates for individuals with good credit are as follows:
• 30-Year Fixed-Rate Mortgage: Approximately 6.89%
• 15-Year Fixed-Rate Mortgage: Approximately 6.05%

• 5/1 Adjustable-Rate Mortgage (ARM): Approximately 7.21%
These rates have seen a slight decline recently, with the 30-year fixed-rate mortgage decreasing from 6.95% to 6.89% over the past week.

It’s important to note that mortgage rates can vary based on factors such as loan type, term length, and individual financial profiles.

For instance, individuals with higher credit scores typically receive more favorable rates.

Given the dynamic nature of mortgage rates, it’s advisable to consult with multiple lenders to obtain personalized rate quotes tailored to your specific financial situation.

[Julianna]

I second Bankrate. Also, Credit Unions usually have better rates. Just keep an eye on the local ones in your area, there’s usually only one or two.

Not too much to monitor.

[Justine]

Personally, I would say speak to an independent mortgage advisor. They usually offer an initial consultation free. This way you’ll be able to see what you can borrow, the minimum deposit and monthly fees.

This is then exact to your personal circumstances.

[Lisa]

As the federal prime rate falls, the mortgage rates will follow.

[Author]

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